Dec 14 (Reuters) - U.S. stocks were set to open little changed on Monday as investors brace for a widely expected rate hike and crude prices flirted with their 11-year lows.

Traders expect an 85 percent chance the Federal Reserve will lift its target rate range to 0.25 percent to 0.50 percent from the current zero to 0.25 percent, according to CME Group’s FedWatch program.

The central bank kicks off a two-day policy meeting on Dec. 15 to decide on interest rates.

Global stock markets were volatile on Monday as China’s yuan hit a multi-year low and oil slid to a near 11-year low. Exxon and Chevron shares were down 1 percent.

The S&P 500 ended its worst week since August on Friday as crude prices continued to slide due to oversupply worries.

“Stocks are relatively quiet this morning, which is somewhat normal, after last week’s shellacking,” said Adam Sarhan, chief executive of Sarhan Capital in New York.

Sarhan said the lack of strong economic data from China or the United States has left investors looking for the next bullish catalyst.

“The big obvious elephant in the room for this week is the Fed,” he said.

Apple shares were down 1.7 percent at $111.34 in premarket trading after Morgan Stanley and Barclays cut their price targets on the stock.

Dupont shares were down 1.6 percent at $69.30 in premarket trading after the company agreed on Friday to merge with Dow Chemical in a $130 billion deal. Dow Chemical was down 1.3 percent at $52.70.

Trina Solar surged 8.5 percent to $10.36 after the company received a go-private proposal from a group that included its chief executive, valuing the company at more than $980 million.

Jarden was up 3 percent at $54.25 after Newell Rubbermaid said it would buy the maker of Sunbeam kitchen appliances in cash and stock. Newell was down 7.5 percent at $41.20. (Reporting by Abhiram Nandakumar in Bengaluru, additional reporting by Aastha Agnihotri; Editing by Anil D‘Silva)